How Many People Are Really Trading Cryptocurrency?

[Johnzky]

i still don't get why people are so concerned about the percentage of fake volumes reported by exchanges. it doesn't change anything about the market at all. and they are all doing it to some extent and they are all doing it to compete with each other so that they can remain higher on the lists sorted with their daily volume.
for example if they report some altcoin to have $10 million daily volume when it has only $1000, that coin won't become any better by magic. and it won't get pumped because of it either.

I think you are wrong if fake volume doesn't affect the market. Their goal is to make a fake volume to get the top position so that many traders and investors glance at their coins. In my opinion this is a cunning way of competition, which should be the better coins at the top but be defeated by shitcoin who do fake volumes.

Okay let's read this news https://www.forbes.com/sites/cbovaird/2019/03/22/95-of-reported-bitcoin-trading-volume-is-fake-says-bitwise/#69b295f86717

That’s what it said mate,that fake volume really affects the market since this is very misleading and can lure investors wrongly.i don’t know why did he says it doesn’t affect the market but that’s clearly cheating and why would the need to do that if they have no intention of misleading people?

[Dapper]

I am for sure.   As for everyone else, who knows?

[thesmallgod]

I read somewhere in the forum that CMC has stopped listing many exchange platforms. I do not know how true it is but let me tell you that it is no more news that many exchange platforms fake trading volumes to attract people. In fact, I personally wrote a blog revealing why many investors should be very careful in trading on some platforms. 99% of any new launched exchange platforms are guilty of this. Some of them should be better refers to as fundraising platform rather than a crypto trading platform. IEO is the latest means through which many of these fake volume exchanges are using as leverage.

[b3llsf1l3s]

i still don't get why people are so concerned about the percentage of fake volumes reported by exchanges. it doesn't change anything about the market at all. and they are all doing it to some extent and they are all doing it to compete with each other so that they can remain higher on the lists sorted with their daily volume.
for example if they report some altcoin to have $10 million daily volume when it has only $1000, that coin won't become any better by magic. and it won't get pumped because of it either.

Yes indeed, of course it seems like that, but don't forget that when trading people also see the volume of several coins they invest. If things like this continue then it is not impossible if one day the exchange or coin will scam

[royalfestus]

I read somewhere in the forum that CMC has stopped listing many exchange platforms. I do not know how true it is

You can compare CMC tokens to Coingecko to find that out, though some of these token trade with low volume in mostly low volume exchanges but there are case of high volume exchanges. CMC demands certain amount of daily trade and numbers of exchanges to get list on its platform but have also seen some exception,eg. TEMCO, influence in the space.

[Vinalians]

Yes that's true. Some of the markets are not just being true when it comes in volumes I guess the reason of them is cause they are popular and they need most volume and that volume will make them noticeable.
People in the cryptocurrency market today are not that much but we must also consider those people who are trading and putting their money OTC(OVER THE COUNTER) right. As far as I know, they are the ones that have a big investment sometimes in the cryptocurrency.

[Eildosa]

Of course, we will never know the exact trading volumes on the exchanges, because these data can really be exaggerated. But I can believe that now people have become more trade. 2018 was not the most profitable year and I know that many began to study trade.

[nydiacaskey01]

Thats what I am thinking about those exchanges that goes among the top 10 of exchanges. Some of them are unknown but yet made it to the top 10 and look at the rank of Bittrex, compared to the other sites. Imagine 1 site has how many traders and other sites still claim they have a lot of traders logged and active.

[Chikito]

Does it important? If you trade on trustful exchange, you dont need anything else, just your profit.its same when you buy gold from a bank.

Yes this important, real volume are important for real people betwen trade are getting profit, when trader only fake this gettin loss because exchange playing this game to get your money only, not trade to trade purpose.

Gold is real, you getting physical gold when buy it from gold store, i don't thing so bank sell physical gold, they only give you document gold without physical

[lucho1592]

... now people have become more trade.

Now there are definitely more traders than a year ago, and note that  advertising of crypto has become much more than ever

[btc78]

I am for sure.   As for everyone else, who knows?

Holding is also part of trading right?😂 so I am also for sure lol

Though I believed that many of accounts here are not totally trading bitcoin because they prefer altcoins to use trading since alts are cheaper and fast moving compared to bitcoin that has been turtle move for long time and will only move fast when the great bull comes

[djcaoile1205]

I heard recently only Binance and Bitfinex don't washtrade. But still I believe they do. What about the real trading volume, God knows.

[Kimonoe]

I am for sure.   As for everyone else, who knows?

Holding is also part of trading right?😂 so I am also for sure lol

Though I believed that many of accounts here are not totally trading bitcoin because they prefer altcoins to use trading since alts are cheaper and fast moving compared to bitcoin that has been turtle move for long time and will only move fast when the great bull comes

right, they try their luck on altcoin, by using volatile. if they are successful they will certainly become impromptu rich, but it could be a rubbish coin in an instant. although some people prefer to store bitcoin, because it is safer. I think we are all traders here, because of course we have coins as hope

[huanting55]

I found this article extremely interesting. It raise some solid points about How Many People Are Really Trading Cryptocurrency.

There's a lot of fake data in the market so finding reliable data source is pretty difficult.

https://cdn.cryptohopper.com/images/Blogposts/faktransactions-61.png

After a disappointing 2018, crypto markets are booming once again.

Backed by institutional investors, growing numbers of individual enthusiasts, and broad support for its underlying technology, the blockchain, the entire crypto sector is seeing a resurgence.

According to data collected by CoinMarketCap, the collective crypto cap has nearly tripled since the start of the year. Led by Bitcoin (which has also tripled its value since its low point in 2018) cryptocurrencies are outperforming many other investment assets, including stocks, bonds, gold, and oil.

For those who witnessed crypto’s meteoric rise in 2017, this year’s activity might seem incredibly familiar.

Naturally, now that cryptos are once again an intriguing investment vehicle, exchanges are experiencing a deluge activity. Daily trading volumes have exceeded $70 billion, up from just $18 billion at the start of the year.

At the same time, some are questioning the legitimacy of this data, contending that it may be exaggerated or overblown. With individual and institutional investors alike flooding into crypto markets, now is an excellent time to evaluate the trading landscape and to consider how crypto trading really gets done.

Most importantly, it’s the right time to evaluate how these factors can help investors capitalize on the most recent crypto boon.


Full article here
https://www.cryptohopper.com/blog/240-how-many-people-are-really-trading-cryptocurrency

Perhaps most importantly, automated trading bots can provide the cryptocurrency trading tools that they need to be successful in this burgeoning market. These can include: Mirror trading, Paper trading, Backtesting, Trailing stops

[Eraldo Coil]

Oh, I'm not aware that volumes could be faked. But I think cryptocurrency is popular enough to get a lot of traders out there. This kind of thing is bad since it can fool the new traders out there. They probably change this thing for the sake of money as well like paying the ico reviewers to give the projects a good rating.

[Froppy]

There are many kinds of traders here in cryptocurrency, sometimes those have people that trades for making money for their daily lives and also has people that trading is for fun only. Also there are people who only selling coins because they want to have some income came from rewards. And i think your data is also correct as what i had observe.

[Mr.Zero]

yes, this is so bad in cryptocurrency.
a lot of exchange is manipulated trading volume with fake trading volume, this is will make it look so good but not real.
we must to doing something to stop it.

[Nellayar]

We can`t get enough amount of traders in an exchange since some of them or should I say all of them has fake volumes. In fact, we don`t know if whole of the trades are conducted by real traders.
This topic is not anymore big deal to everybody, but I think that day traders need an exact number of traders for a specific amount of time. We need to know volumes because some of signals as well as indicators need the volumes in order to know when we will enter the market.

[ttcsalam]

I do not think it's the correct statistics. But I think it is better not to make statistics based on estimates. It is necessary to present the information in a proper manner.

[veleten]

way to take three pretty low volume and , to be fair , crappy exchanges and post figures that are guestimates
there is no way to account the real number of fake trades and it is only their estimates
but I am sure that at least 30% of the trading volume is fake , but figures >90% are ridiculous
for example: https://coinmarketcap.com/exchanges/huobi-global/
in 24 hours the volume is around 37.000 bitcoins , this means 34.000 coins are fake trades and only 3.000 or less are bought/sold by legit traders
0.01% of 3000 bitcoins would be only 0.3 bitcoins in profit , which won't cover the operating costs of the exchange